Subramaniam Swamy asks for CBI probe into RBI scam


Subramaniam Swamy asks for CBI probe into RBI scam: BJP senior leader Subramanian Swamy has asked for a CBI enquiry into the (Reserve Bank of India’s (RBI) functioning. Swamy has asked the SC to direct an investigation by CBI or any other competent authority into the illegalities committed by officials of the RBI in discharge of their official functions, which has resulted in various banking/financial scams in India.

 

Advocates M R Venkatesh and Satyapaul Sabharwal have assisted him in filing a PIL today at the Supreme Court.

 

In the petition, they alleged that RBI officials have been in demonstrable active connivance and in grave violations of their statutory duties.

 

"...no officer of RBI has ever been held accountable for any dereliction of duty in case of any fraud reported by any bank. This is in sharp contrast to the number of frauds exploding in the banking sector in India aggregating to in excess of over Rs 3 lakh crore (Rs three trillion)," PIL stated.

 

It was further stated that in the last couple of years, various banks have reported scams after scams wherein the role of bank officials were clearly made out but surprisingly not even a single RBI official has been brought to justice despite RBI retaining the power to monitor, regulate, supervise, audit and direct the functioning of all banking companies in India...

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